This site, like many others, uses small files called cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on this website (Cookie Policy). However, if you would like to, you can change your cookie settings at any time.

Speaking to Insurance Times about the results, Blanc noted the “stark contrast” between the performance of the direct personal motor book – previously a problem area for AXA – and its brokered counterpart.

She said: “There are real challenges in the intermediated market full stop. We are seeing those challenges in AXA. We are investing in pricing sophistication, data and insurer-hosted pricing. We are confident that that is going to work.”

Blanc said that similar investments in the direct channel had turned its performance around. “We are doing exactly the same thing in personal intermediated motor. But we are probably a couple of years behind where we are in direct.”

The direct channel got the investment sooner partly because that is where the problems were. At the time, the brokered motor business was not the problem. Blanc said: “When something starts to deteriorate, you have to address is quite quickly and that is what we have done.”

While flagging brokered personal motor profitability as a problem, Blanc was keen that the issue was not blown out of proportion.

She said: “It is 5% of our overall business. We’re not going to get massively stressed about it. But I do think it would be wrong to not recognise the difference between the performance of the direct motor book and the intermediated motor book.”

She was also keen that the issue did not detract from AXA UK and Ireland’s first-half results, which she described as “a great set of results.”

She added: “There are some challenges, but overall, I am extremely pleased with the set of results we produced.”

She also said that the motor issues would “absolutely not” affect AXA’s commitment to personal lines brokers.

AXA UK and Ireland made an underlying profit of £138m in the first half of 2016, up 8% on the £128m it made in the same period last year.
The improvement came despite the company facing what chief executive Amanda Blanc d